Financial integration in Asia
Subtitle: estimating the risk-sharing gains for Australia and other nations
By: prepared by Benoît Mercereau.
Contributors: International Monetary Fund. Asia and Pacific Dept.
Series: IMF working paper -- WP/06/267
Publisher: International Monetary Fund, Asian and Pacific Dept.
Published: 2006
Place of publication: [Washington, D.C.]
Language: eng
Number of pages: 20
Subjects: Risk -- Pacific Area -- Econometric models.; Pacific Area -- Economic integration -- Econometric models.; Australia -- Economic conditions -- 1945- -- Econometric models.; Australia -- Economic policy -- Econometric models.; Pacific Area -- Economic conditions -- Econometric models.; Pacific Area -- Economic policy -- Econometric models.
Description: Holding foreign assets reduces the volatility of a country's income by allowing countries to share risk. Yet, financial integration is limited in Asia. This paper estimates how much Australia and other countries in the Asia-Pacific region would gain from greater financial integration. The results suggest that these welfare gains are large, which argues in favor of a progressive capital account liberalization across the region.
Notes: Caption title.

"December 2006."

Includes bibliographical references (p. 20).

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